U.S. market indexes were higher on Friday. The Dow Jones Industrial Average closed at 23,328.63 for a gain of 165.59 points or 0.71%. The S&P 500 closed at 2,575.21 for a gain of 13.11 points or 0.51%. The Nasdaq Composite closed at 6,629.05 for a gain of 23.99 points or 0.36%. The VIX Volatility Index was lower for the day at 9.94 for a loss of -0.11 points or -1.09%.
For the week, the Dow Jones gained 1.99%, the S&P 500 gained 0.85% and the Nasdaq Composite gained 0.34%.
Friday’s market movers
All of the leading indexes closed at new highs on Friday. Gains were helped by the Senate’s federal budget approval, which also improves the outlook for tax reform.
Economic reports affecting market trading included the following:
- Existing home sales increased to a seasonally adjusted annual rate of 5.39 million.
- The Baker Hughes rig count decreased to 1,115 from 1,140.
In the Dow Jones Industrial Average, the following stocks led gains:
UnitedHealth (UNH, Financial) 2.04%
Goldman Sachs (GS, Financial) 1.98%
JPMorgan (JPM, Financial) 1.43%
In the broad market, financial stocks led gains. Technology was also higher with the S&P 500 technology sector gaining 0.68%.
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,509.25 for a gain of 7.20 points or 0.48%. The S&P 600 closed at 913.75 for a gain of 5.21 points or 0.57%. The Dow Jones Small-Cap Growth TSM Index closed at 9,143.86 for a gain of 63.45 points or 0.70%. The Dow Jones Small-Cap Value TSM Index closed at 10,122.51 for a gain of 25.75 points or 0.26%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,834.29 for a gain of 10.44 points or 0.57%; the S&P 100 Index at 1,135.26 for a gain of 4.55 points or 0.40%; the Russell 3000 Index at 1,527.19 for a gain of 7.85 points or 0.52%; the Russell 1000 Index at 1,427.61 for a gain of 7.38 points or 0.52%; and the Dow Jones U.S. Select Dividend Index at 684.59 for a gain of 3.82 points or 0.56%.
